I-3 - Taxation Act

Section 1049.1.0.2 Disposition versions

2017-12-07

1049.1.0.2. (Repealed).

1990, c. 7, s. 173; 1997, c. 3, s. 71; 1997, c. 85, s. 276; 1999, c. 83, s. 273; 2017, c. 29, s. 201.

2006-03-01

1049.1.0.2. Where a corporation stipulates, in a final prospectus or an application for exemption from filing a prospectus relating to a convertible security within the meaning of paragraph l of section 965.1, issued as part of a convertible security issue within the meaning of paragraph h.0.1.1 of that section, to a qualifying non-guaranteed convertible security within the meaning of paragraph j.5 of that section, issued as part of a non-guaranteed convertible security issue within the meaning of paragraph g.1 of that section, or to the issue of a preferred share meeting the requirements of paragraph b of section 965.9.1.0.4.2 or 965.9.1.0.5, in respect of the share that may be acquired as a result of the exercise of a conversion right conferred on the holder of the convertible security, qualifying non-guaranteed convertible security or preferred share, as the case may be, and that may be included in a stock savings plan described in section 965.2, an adjusted cost other than that determined under section 965.6, and it issues the share, the corporation incurs a penalty equal to 25% of the amount by which the adjusted cost so stipulated in respect of each share distributed in Québec to an individual other than a trust, to an investment group or to an investment fund exceeds the adjusted cost determined under section 965.6 in respect of each such share.

1990, c. 7, s. 173; 1997, c. 3, s. 71; 1997, c. 85, s. 276; 1999, c. 83, s. 273.